Feb 11, 2007

[ G7 Meeting Releted Topic ] YEN get hurt badly at the week opening

YEN get hurt badly at the week opening. This shows a very clear sight that market speculations are getting disappointed with G7 meeting. We have European and Canada 'big brothers' who kept mentioned before the G7 meeting that they will bring YEN and Chinese Yuan in focus. During the pass weekend, we do have them in discussion within this 2 currencies and the forex market. But, we do not have a strong comment within YEN so far from the meeting. Yen’s bull speculators are disappointed to the meeting and yet rushing to free themselves during the opening.

I had did couple of trades within the past hour, which included Long in EUR/JPY (+ 40pips) and Long in GBP/JPY (+50pips). Long in USD/JPY @ 121.88 still remind open. Besides I had also closed several carry trades since last week. Long in GBP/USD (@ 1.9503) had been closed with +10 pips. Short in EUR/CHF (@ 1.6233) had been out with +1pip, and (@ 1.6250) had been out with +8 pips.

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